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US begins repatriation of $480m Abacha loot

18 April 2016, 06:44

Abuja - The United States (US) has commenced the repatriation of approximately $480 million considered to have been stolen by late head of state General Sani Abacha.

According to Naij, the conditions of the return are currently being discussed, with the US' Department of Justice's Kleptocracy Unit helping to track funds diverted by Nigerian nationals in the country.

“This is the largest loot ever traced to a former Nigerian public officer in the U.S,” said a source who asked to be anonymous.

Also read: 'Stupid' people want me to account for Abacha loot - Obasanjo

The development follows shortly after the Swiss Government has confirmed that $723 million in funds stolen by Abacha had been repatriated to Nigeria over the past 10 years.

The administration of former President Olusegun Obasanjo has recorded the highest amount of repatriated loot from Abacha's offshore accounts, with the official number standing at a whopping US$1.25 billion.

Read more at Naij

- News24


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